The premium received for Maules Creek coal was 11% above the benchmark price for the quarter, the company said.

During the December quarter, the benchmark Newcastle thermal coal index averaged $US52.56 per tonne, while Whitehaven achieved an average price of $54.61/t.

Total coal sales for the December quarter were 4.9 million tonnes.

Export sales comprised 10% metallurgical coal and 90% thermal coal due to the addition of Maules Creek thermal sales. The first sales of metallurgical coal from Maules Creek occurred during the quarter.

“Early feedback from those customers on the quality of the coal has been positive,” the company said.

“Metallurgical coal sales are expected to increase progressively during CY2016 as market acceptance for the new coal grows.”

Whitehaven achieved an average price of $65/t from sales of metallurgical products in the December quarter and expects the price for metallurgical coal products in the

March quarter 2016 to be in the range of $62/t to $65/t.

In a report on Whitehaven Coal, broking house Morgan Stanley said: “Maules Creek continued to ramp-up well, with FY16 guidance lifted to 7.6Mtpa (+3% on previous guidance).

“Group guidance was lifted 4% in December 20114 to 19.5 to 20.1Mt, likely reflecting the good performances at key mines Narrabri and Maules Creek.”